Real estate will leverage PropTech’s global nature, thus seeing an increase in cross-border investment.
Fremont, CA: New innovative technologies and ideas developed to re-imagine the main processes and business models of the conventional property management and real estate vertical via digital transformation is termed as property technology or PropTech.
This technology has created a new model of innovation, and it is crucial to stay up to date to understand the essentiality of investments and the future of technology.
Here are five trends PropTech in real estate:
The Harsh Reality of Long Sales Cycles and Infrequent Transactions
Customers in a real estate buy a house once a decade, rent a new flat once in a few years, and retuning only every couple of years. As such, the malinvestment will soon be flushed out as startups transform transactions for the end-users.
As the industry undergoes a digital transformation, experts who are well-versed in the present situation will emerge, and inexperienced advisers will exit. More people will be brought into the industry from outside, those who have better track records and proven success. This is a real state of affairs and expertise sought by real estate industries.
Check Out: Real Estate Business Review Magazine
Workforce Experts to Drive Workplace Transformation
With the culture change in workforces, experts will find their skills in high demand as office owners and occupiers understand the potentials of a physical asset to enhance productivity through technology resulting in business models.
ibuyer will Discover the Harsh Realities when the Local Housing Market Turns Down
The technology business is popular as their models are scalable and repetitive at low marginal cost with big addressable markets. However, buying a property does not have a low marginal cost or frictionless. Thus, the ibuyer segment will soon discover the realities when the housing market turns down.
Cross-border PropTech Investment to Increase
Real estate will leverage PropTech’s global nature, thus seeing an increase in cross-border investment. These growth trends will boost the increased requirement for PropTech in evolving real estate markets.
See also: Top Proptech Solution Companies